Magyar
Hungary is experiencing unprecedented inflation this year. The government thus tried to reduce the rate of monetary deterioration with various price cap measures. Seven basic items were given a price cap by the government in May; their prices could not increase above what they were on October 15 of the previous year (2021).
The minister in charge of economic growth, Márton Nagy, thinks the moment will eventually come to lift the price caps. The solution was beneficial while it appeared that the problem was short-lived, but if the rate of inflation starts to level off, it will be essential to remove the limits, and everyone will have to pay the market price. Although the measures, in his perspective, have done their job, the energy crisis still exists, and prices are continuously going up.
In addition to all of this, the latest inflation data clearly shows how the price of substitutes for price-stop products developed. Unfortunately, the cap did not stop the rise of substitute product prices.
In our research, we asked our users whether they would abolish official pricing for the affected products.
According to 43% of the respondents, the time has not yet come to abolish official prices.
Do you think it’s time to end the price cap?